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Meet the man who lost $20 billion almost overnight

How infamous investor Bill Hwang destroyed his jaw-dropping fortune
Bill Hwang's humble beginnings
Bill Hwang's big break
Bill Hwang starts Tiger Asia Management
Tiger Asia's regulatory woes
Bill Hwang establishes Archegos Capital Management
Regulatory blind spot
Archegos's performance impresses major banks
Bill Hwang's risky investment strategies
Bill Hwang fires up ViacomCBS stock
Bill Hwang becomes ViacomCBS' biggest backer
ViacomCBS launches an ill-fated stock sale
ViacomCBS shares crash and burn
Banks dump their Archegos holdings
Severe repercussions for Credit Suisse
Bill Hwang's vanishing $20 billion fortune
Bill Hwang's modest lifestyle and deep-pocketed philanthropy
Bill Hwang's divinely inspired
The SEC accuses Bill Hwang of fraud and market manipulation
Bill Hwang is arrested, charged and put on trial
Bill Hwang's 18-year prison sentence
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ADAM GRAY/AFP via Getty Images

How infamous investor Bill Hwang destroyed his jaw-dropping fortune

Once dubbed "the greatest trader you've never heard of", Sung Kook "Bill" Hwang amassed a $20 billion (£16bn) net worth – only to see it wiped out in the blink of an eye.

His fortune was obliterated back in March 2021 following the spectacular collapse of Archegos Capital Management, his New York-based private investment firm. Hwang has since been found guilty on several charges for his role in the fund's catastrophic implosion, which had far-reaching consequences across the financial world. 

The rags-to-riches Hwang, who started out making burgers in McDonald's, has just been sentenced to 18 years in prison. Read on to discover how he managed to accumulate so much wealth and lose it so dramatically. 

All dollar amounts in US dollars.

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Daniel Coughlin

22 November 2024

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